Operational Risk Senior Manager

Operational Risk Senior Manager

Job Purpose:

• The Senior Operational Risk Manager is responsible for the Operational Risk (OR) Framework, Line 2 oversight of Operational Risk, and is responsible for ensuring that OR is effectively managed and controlled across the Bank and complimenting / supporting an effectively functioning Enterprise Risk Management Framework (ERMF).
• SMF4 CRO prescribed responsibilities for Fighting Financial Crime (fraud aspects only), Business Continuity Planning and Resolution Planning are delegated to the Senior Operational Risk Manager
• Provides leadership, knowledge and experience to the Bank to enable effective management and control of OR within the ERMF.
• Supports the CRO and the Risk function in ensuring that an effective OR function is in place, supporting 1st Line teams with appropriate coaching, monitoring and aggregating information objectively for the executive and board.
• Ensuring all Operational Risks are managed and controlled across the Bank within a clear taxonomy that informs and protects EAB through effective lessons learned and other feedback loops that build and maintain an effective risk culture across EAB, complimenting the wider ERMF.

Principal Accountabilities & Duties:

Oversight

• Ensures that 1st Line OR controls and processes effectively mitigate OR in accordance with Board-Approved Risk Appetite and are appropriately recorded and refreshed in the Banks Risk Register / Risk Map.
• Owner of the OR Framework, including the bank’s approach to Risk & Control Self-Assessment (RCSA) processes, OR Assurance, and OR issues, event reporting, consolidation, analysis and feedback.
• Chairs the Operational Risk Committee, and makes presentations to other committees such as ERCC.
• Secretary to ERCC.
• Prepares and provides Risk MI Reporting on OR.
• Ensures that the OR Framework meets regulatory requirements.

Challenge

• Challenges 1st Line with regard to any new or existing OR, (including Operational Resilience) controls and processes.
• Works closely with 1st Line to identify new risks, concentrations of risk, trends, variances and anomalies, and ensure that risk mitigation is in place.
• Reviews and assesses OR event reports, drives effective and clear root cause analysis, corrective actions and provide effective feedback through lessons learned.
• Challenges results of 1st Line risk assessments within RCSAs.
• Performs 2nd Line reviews of specific areas and investigations when required by the CRO, or CEO.
• Ensures that new initiatives, functions and systems, as well as technological change is adequately assessed in terms of OR.

Coordination

• Maintenance of Operational Risk and Fraud Policies, supports the renewal of the ERMF.
• Ensuring Operational Resilience and OR practices are complimentary, effectively coordinated and not duplicative.
• Maintenance of New Business Policy, Product Library, and co-ordination of the New Products approval process.
• Ownership of the Bank’s Fraud Risk Management approach.
• Education of EAB staff in OR matters, supporting the ERMF.
• Supports CRO in preparation for ERCC, Board Audit and Risk Committee (BARC) and follow-up on Actions.

Risk & Regulatory Duties

• Maintains knowledge of applicable regulatory requirements through effective horizon scanning.
• Reports policy/procedure breaches and areas of potential non-compliance and suspicions promptly upon identification in accordance with the Bank’s Risk and Compliance policies and formal / informal escalation paths.
• Executes and tests all controls within own area to minimise risk of policy, procedure, risk appetite and / or regulatory breaches.
• Identify new risks/control gaps within own area via own RCSA.

Training & Competence

• Completes all annual mandatory regulatory refresher training as per the Bank’s training plans and deadlines.
• Proactively seeks to self-develop by completing technical and behavioural training required for role.
• Lead Risk Induction programs for the Bank, ensuring new joiners grasp (among other things) the risk culture of EAB.

Data Governance

• Appointed Data Steward supporting the Data Owner in representing the interests of the Data Domain and responsible for the application of the Data Governance Policy within Risk.

Qualifications, Education, Skills & Experience:

• 8 years + in Operational Risk Management role in banking environment
• Higher educations qualification BSc, BA or equivalent
• Fully conversant with the interactions between Risk Appetite, the control environment, event / incident management, the RCSA process and the effective aggregation of data into informative and forward looking risk registers/maps, dashboards and board papers.
• Demonstrable effectiveness in coaching, training and influencing best practices.
• Good knowledge of Banking structures, business models, products, processes and Enterprise Risk Management.
• Deep understanding of Bank transaction processing flows, control frameworks, accounting.
• Awareness of developments in financial markets, wider Risk practices, and regulation.

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